HIG Development has unveiled Barah Residence, its latest residential project in Hadayek October, West Cairo, with total investments estimated at EGP 3bn. The launch event was attended by business leaders, clients, and real estate sector representatives.
Developed over 8 feddans, Barah Residence dedicates only 25% of its land to buildings, with the remainder allocated to landscaped and open spaces.
Alaa El Hosary, Chairperson of HIG Development, said the project reflects the company’s expansion strategy in Egypt’s real estate market, with a focus on residential developments in West Cairo. He noted that Barah Residence is the company’s fifth project, following commercial ventures including Centro Mall, Parco Mall, Casa Mall, and Strip Mall. HIG’s total investment portfolio now stands at nearly EGP 10bn.
Ahmed Ashour, Board Member and CEO, highlighted the project’s prime location near Zewail Street, Fayoum Road, Al Wahat Road, the Grand Egyptian Museum, and Sphinx International Airport. The development will comprise 350 residential units across 16 buildings, with sizes ranging from 70-170 sqm, alongside serviced hospitality units of 35-45 sqm. Ashour added that the company is targeting EGP 1bn in sales during the first launch phase, with payment plans extending up to 10 years.
Islam Sanousy, Vice Chairperson and General Supervisor of the contracting division, said construction is scheduled to begin within six months. The project will feature a commercial area, hospitality facilities, and recreational amenities including swimming pools, jogging and cycling tracks, children’s areas, and green spaces.
Barah Residence is being developed in partnership with Arab Art Engineering Consultants and other specialized design and construction firms.
